PUBLIC FINANCE.

Hawera Star, Volume XLVI, 6 August 1926, Page 5

PUBLIC FINANCE.

THE QUARTER’S REVENUE AND EXPENDITURE.

(BY TELEGRAPH —PRESS ASSOCIATION.) WELLINGTON, Aug. 5.

The public accounts for the quarter ended June 3 were gazetted to-night. The summary furnished by the Treasury Department is as follows: The total revenue received ' for _the three months amounted to £4,337,580, excluding the railway revenue (which is now paid to a separate account). From the first quarter of last year the total revenue received was £4,040,438, so that the June quarter of 1926 shows an increase of £297,142 over the sameperiod of last year. Of this increase, however, the sum of £267,320 represents interest on the railways capital liability, and interest on the public debt redemption fund, which interest was not received during the first quarter of 1925.

The principal increases are : Customs £17,463, post and telegraph' £61,472, income tax £13,477, departmental receipts £37,370, recoveries on account of expenditure of previous years £32,341. The principal decreases are: Stamp and death duties £136,849, land tax £12,754. The total expenditure for the three montns was £5,816.812, as against the June quarter last year (excluding railway expenditure) £5,632,208. an increase of £184,604. There is an item of £130,000 in the interest payments under permanent charges which came to charge in the June quarter this year, but later last year. Under the annual appropriations the principal increases are : Post and telegraph working expenses £24,920, Department of Internal Affairs j£3o,Oil, Defence Department £25,135. The principal decreases are: Naval defence £23,078, services not provided for £2(X590. The excess of expenditure over revenue for the first quarter is usual, as the larger collections of the main tax revenues are made m the lat-er portion of the financial year.